Award Modification Sample Clauses
The Award Modification clause defines the process and authority for making changes to an existing contract award. Typically, this clause outlines who can initiate modifications, the procedures for requesting and approving changes, and the types of adjustments that may be permitted, such as changes in scope, price, or delivery schedules. By establishing a clear framework for altering contract terms, the clause ensures that both parties can adapt to unforeseen circumstances or evolving project requirements while maintaining mutual agreement and legal compliance.
Award Modification. MSCI reserves the right to modify or amend unilaterally the terms and conditions of your RSUs, without first asking your consent, or to waive any terms and conditions that operate in favor of MSCI. MSCI may not modify your RSUs in a manner that would materially impair your rights in your RSUs without your consent; provided, however, that MSCI may, without your consent, amend or modify your RSUs in any manner that MSCI considers necessary or advisable to comply with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations. MSCI will notify you of any amendment of your RSUs that affects your rights. Any amendment or waiver of a provision of this Award Agreement (other than any amendment or waiver applicable to all recipients generally), which amendment or waiver operates in your favor or confers a benefit on you, must be in writing and signed by the Chief Human Resources Officer, the Chief Financial Officer or the General Counsel (or if such positions no longer exist, by the holders of equivalent positions) to be effective.
Award Modification. Clause 15.4 modifies Clause 9(a) – Annual Leave of the Award by including the 17.5% annual leave loading in the hourly rate of pay.
Award Modification. Clause 20.2 modifies Clause 35 – Public Holidays of the Award by substituting payment of penalties for working on a public holiday by including the penalties in the ordinary annualised rate of pay at 12 – Rates of Pay.
Award Modification. MSCI reserves the right to modify or amend unilaterally the terms and conditions of your RSUs, without first asking your consent, or to waive any terms and conditions that operate in favor of MSCI. These amendments may include (but are not limited to) changes that MSCI considers necessary or advisable as a result of changes in any, or the adoption of any new, Legal Requirement. MSCI may not modify your RSUs in a manner that would materially impair your rights in your RSUs without your consent; provided, however, that MSCI may, without your consent, amend or modify your RSUs in any manner that MSCI considers necessary or advisable to comply with any Legal Requirement or to ensure that your RSUs are not subject to United States federal, state or local income tax or any equivalent taxes in territories outside the United States prior to payment. MSCI will notify you of any amendment of your RSUs that affects your rights. Any amendment or waiver of a provision of this Award Agreement (other than any amendment or waiver applicable to all recipients generally), which amendment or waiver operates in your favor or confers a benefit on you, must be in writing and signed by the Global Head of Human Resources, the Chief Administrative Officer, the Chief Financial Officer or the General Counsel (or if such positions no longer exist, by the holders of equivalent positions) to be effective.
Award Modification. Clause 16.1 modifies Clause 32 – ▇▇▇▇ Leave and Clause 11 – ▇▇▇▇▇’s Leave of the Award by including 10 days paid personal leave / carer’s leave in the loaded hourly rate of pay.
Award Modification. MSCI reserves the right to modify or amend unilaterally the terms and conditions of your Options, without first asking your consent, or to waive any terms and conditions that operate in favor of MSCI. These amendments may include (but are not limited to) changes that MSCI considers necessary or advisable as a result of changes in any, or the adoption of any new, Legal Requirement. MSCI may not modify your stock options in a manner that would materially impair your rights in your Options without your consent; provided, however, that MSCI may, without your consent, amend or modify your Options in any manner that MSCI considers necessary or advisable to comply with any Legal Requirement or to ensure that your Options are not subject to United States federal, state or local income tax or any equivalent taxes in territories outside the United States prior to exercise. MSCI will notify you of any amendment of your Options that affects your rights. Any amendment or waiver of a provision of this Award Agreement (other than any amendment or waiver applicable to all recipients generally), which amendment or waiver operates in your favor or confers a benefit on you, must be in writing and signed by the Global Head of Human Resources, the Chief Administrative Officer, the Chief Financial Officer or the General Counsel (or if such positions no longer exist, by the holders of equivalent positions) to be effective.
Award Modification. Clause 15.3 modifies Clause 30(b) of the Award relating to the method of taking leave; and Clause 15.4 modifies Clause 30 (g) (ii)of the Award relating to the inclusion of the 17.5% annual leave loading in the rates of pay at 12 – Rates of Pay.
Award Modification. This Clause modifies Clause 19a – Meals and Clause 25 – Rest Period of the Award by substituting after three and before 5 hours work with more than five hours work before being eligible for an unpaid rest break.
Award Modification. Clauses 14.3 and 14.4 – modify Clause 27(a) – Overtime and Special Time of the Award relating to the quantum of overtime to be paid and the taking of overtime as paid time off in lieu.
Award Modification. Clause 18.3 modifies Clause 34 (f) – Public Holidays and Holiday Work of the Award by allowing an employee to have the option of payment for work on a public holiday at double time and one half or to elect to take time in lieu on a time for time basis.